NEW YORK, Sept. 13, 2017 /PRNewswire/ -- "Increasing
demand for lightweight and high strength material breaches to drive
the CF and CFRP market"
Read the full report: https://www.reportlinker.com/p05099521
The global Carbon Fiber Reinforced Plastic (CFRP) market is
projected to reach USD 37.19 billion
by 2022, at a CAGR of 10.50% between 2017 and 2022. Major factors
fueling the growth of the CFRP market are increasing use of carbon
fiber composites in Boeing and Airbus aircraft, and rise in demand
for lightweight vehicles to achieve fuel efficiency and production
of electricity from renewables. The major restraint for growth of
the CFRP market is high cost of carbon fiber. The price of
automotive grade carbon fiber currently ranges between USD 8/lb and USD
15/lb. If this price is decreased to USD 5/lb -USD7/lb,
then carbon fiber can be used for mass production of
automobiles.
"Automotive is the fastest-growing end-use industry segment of
the CFRP market"
Carbon fiber composites are being used to manufacture lightweight
cars for good performance and luxury at economical price. Several
key market players are responding to the needs and expectations of
vehicle Original Equipment Manufacturers (OEMs), system suppliers,
and customers. The key driver for growth of the market for carbon
fiber composites is the increasing need for lighter, safer,
cleaner, and more cost-effective vehicles. Most common automotive
components where carbon fiber composites are used are exterior body
parts, hoods, bonnets, and test plates. Additionally, several car
companies, such as BMW (Germany), Audi
(Germany), and GM (U.S.) have signed agreements with carbon
fiber composite manufacturers to support low-cost carbon fiber
composites manufacturing.
"Europe is the fastest-growing
market for CFRP"
Europe is the fastest-growing
market for CFRP, in terms of value and volume. High economic growth
rate, rise in the number of manufacturing industries, increasing
carbon fiber composites patents, new product developments, capacity
expansions, and new plant establishments by various leading players
are factors fueling the growth of the CFRP market in the
region.
Germany leads the market for CFRP in Europe. Consumption of carbon fiber composites
in Germany has grown exceptionally
and is expected to witness growth in the future. The number of
agreements and joint ventures between carbon fiber manufacturers
and OEMs have helped to expand the CFRP business in wind energy,
automotive, aerospace & defense, and other industries.
This study has been validated through primaries conducted with
various industry experts, globally. These primary sources have been
divided in three categories, namely, by company type, by
designation, and by region.
• By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
• By designation- C Level- 30%, Director Level- 25%, and Others-
35%
• By region- North America- 30%,
Asia-Pacific- 30%, Europe- 25%, ME&A - 10%, and South America - 5%
The report also provides company profiles and competitive
strategies adopted by major market players. Various key players
profiled in the report are as follows:
• Toray Industries Inc. (Japan)
• Teijin Limited (Japan)
• Mitsubishi Rayon Co. Ltd. (Japan)
• SGL-Group (Germany)
• Formosa Plastics Corporation (Taiwan)
• Hexcel Corporation (U.S.)
• Hyosung (South Korea)
• Tencate (Netherlands)
• Dow-Aksa (Turkey)
• Cytec Industries Inc. (U.S.)
• Taekwang Industrial Co. ltd. (Korea)
Research Coverage:
This report covers the CFRP market on the basis of end-use
industry, manufacturing process, resin type, and region, and the CF
market on basis of raw material. It aims at estimating the market
size and future growth potential across the abovementioned
segments. Furthermore, the report also includes an in-depth
competitive analysis of key players in the market, along with
company profiles, DIVE analysis, recent developments, and key
growth strategies.
Reasons to Buy the Report:
The report will help market leaders/new entrants in the
following ways:
1. This report segments the CF and CFRP market comprehensively, and
provides closest approximations of revenue numbers for the overall
market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the
market, and provides them information on key market drivers,
restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand
competitors and gain more insights to improve their position in the
market. The competitive landscape section includes competitor
ecosystem, new product developments, agreements, partnerships, and
mergers & acquisitions.
Read the full report: https://www.reportlinker.com/p05099521
About Reportlinker
ReportLinker is an award-winning market research solution.
Reportlinker finds and organizes the latest industry data so you
get all the market research you need - instantly, in one place.
https://www.reportlinker.com
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
View original
content:http://www.prnewswire.com/news-releases/cf--cfrp-market-by-end-use-industry-resin-type-manufacturing-process-raw-material-and-region---global-forecast-to-2022-300519068.html
SOURCE Reportlinker